Pre tax profits

During his three years as CEO, Dinh Quang Huy has lead SHB Finance to reach several notable achievements Saigon-Hanoi Commercial Joint Stock Bank (SHB), the owner of SHB Finance, will appoint a new Board member and CEO in due time. Talking with VIR about the move, Dinh Quang Huy was quite satisfied with what SHB Finance has achieved in his three years at the helm, with the support of the management team and nearly 4,000 employees. The move after almost six years of growing the consumer finance business is part of his professional drive. Before joining SHB Finance, Huy had more than two years as CEO of MB Shinsei Finance Company (Mcredit), from the set-up phase to full scale operation. With a broad range of consumer finance loans for low- to medium-income customers, SHB Finance is regarded as a trusted service provider of basic financial needs for Vietnamese customers. During his three-year in the office, SHB Finance has been progressing with notable achievements such as becoming the first finance company rated by Moody's at a B3 Stable outlook right in its first year of operation; mobilising a considerable amount of unsecured funds from institutional investors, including the prestigious ResponsAbility Investment Fund from Switzerland with strict standards; as well as signing a partnership agreement with Mastercard to issue international credit cards. By the end of 2020, the network of SHB Finance has covered 40 key provinces and cities, serving nearly 700,000 customers. Pre-tax profit was VND70 billion ($3.04 million), with balance at the end of the period being VND3.689 trillion ($160.3 million), with bad debts under tight control and stable business results. SHB Finance provides quick and convenient consumer loans for people with low and middle income Throughout a challenging 2020, SHB Finance has proven its capacity and position when recognised by reputable rating agencies and institutional investors. With a broad …

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The results of 2020 business and 2021 outlook support the rise of bank stocks Ending the last session of February, the VN-Index stood at 1,168.47 points, corresponding to an increase of 111.86 points (10.59 per cent) compared to the previous month. The HNX-Index increased by 35.01 points (16.3 per cent) to 249.22 points. The UPCoM-Index also increased 4.56 points (6.33 per cent) to 76.64 points. Large-cap stocks recovered well in February as only the NVL ticker of Novaland decreased by 0.7 per cent. Meanwhile, as many as 14 other stocks in this group increased by over 15 per cent. The shares of VPBank (VPB), rose the most among the top 30 by market capitalisation with over 33 per cent. Following that, Thaiholdings (THD) also increased by 26 per cent and was a key factor helping the HNX-Index continue to break out recently. February was also a good month for banking stocks as, besides VPB, the stocks of Vietnam International Commercial Joint Stock Bank (VIB), Asia Bank (ACB), Techcombank (TCB), or Vietinbank (CTG) also increased by over 20 per cent. Particularly, the last trading week of February recorded a rise in most bank stocks. At the price of VND33,000 ($1.44), Asia Commercial Bank (ACB) was the strongest increase with nearly 9 per cent. Military Bank (MBB) led in liquidity with nearly 72.1 million shares. Military Bank shares closed the morning session at VND28,200 ($1.23) a share. Vietnam Prosperity Bank (VPB) reached VND40,800 ($1.77) while Techcombank (TCB) reached VND40,200 ($1.75), Vietnam International Bank (VIB) hit VND43,200 ($1.88) a shares, and HCMC Development Bank (HDB) increased to VND26,200 ($1.14) per share. Notably, LienViet Post Bank (LPB) hit the ceiling price on March 1, recording liquidity of over 36 million shares and closing the session of March 2 at VND16,100 (70 US cents) a share. PYN Elite Fund said that the VN-Index can completely increase to 1,800 points in 2022 with favourable macroeconomic factors, including high GDP …

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The Hanoitimes - Vietnamese air carriers have listed new domestic airfares which are higher than the fares applied during the social distancing period. In the midst of the second social distancing period against the Covid-19 pandemic, Vietnamese airlines have quoted new domestic airfares that are three to five times higher than the fares applied since the beginning of the social distancing period, but still remain below the regulated ceiling price. Source: Vietnam Airlines Prices on the Ho Chi Minh City – Hanoi route range from VND3.6 million to VND6.7 million for Vietnam Airlines economy class, from VND1.7 million to VND2.9 million for Bamboo Airways’, from VND1.8 million to VND2.1 million for Vietjet Air’s. Fares of the Ho Chi Minh City – Hanoi route Airline Economy class Business class Vietnam Airlines US$152.8 US$284.6 Bamboo Airways US$72.1 - US$123 US$161.4 – US$271.9 Vietjet Air US$76.4 - US$89.1 US$89.1 Source: Bamboo Airways Why high airfares? The prices of domestic flights vary, depending on the time of purchase, Tran Trung Kien, a Thu Duc district-based ticket agent in Ho Chi Minh City told VnExpress . “Travel demand will increase as the social distancing will soon end and in anticipation of the coming public holidays (Reunification day of April 30 and May Day). Supply shortage drives airfares up,” Kien was quoted as saying. Some airlines explained that travel demand between Hanoi and Ho Chi Minh City is high even during the time of social distancing. Meanwhile, in compliance with the social distancing measures against Covid-19, flights are operated at half capacity with seating arrangement of just two passengers in one row to ensure a safe distance. According to the Civil Aviation Authority of Vietnam (CAAV), the Hanoi – Ho Chi Minh City route has been reopened but operated at the frequency of 5-6% below the pre-pandemic …

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